Gold is a form of Safe Asset. It is used as currency in the forex market. Gold can be used as Investment, Hedge Instrument, majorly traded against Usd. It moves up whenever there is the geopolitical issue and economic Certainty
Spot GOLD/XAUUSD down on Friday as the US dollar Strong. Comex gold futures moved in line with our expectations. Gold was facing Strong Resistance at 1333 it was not able to Break this level. On Friday Gold went below middle Bollinger Band.
Our Short Term View in Gold is bearish until there are no Geopolitical tensions which lead gold moves upwards We expect It to move Towards 1321 there it can face Major Support